TRON (TRX) Coin Price Breakout Signals 505% Surge

TRON (TRX) coin has gained market attention after breaking out of a logarithmic wedge pattern, indicating the potential for a major upward move. Market analyst JavonTM1 predicts that TRX could surge over 505% from its current levels, targeting a price of $1.11 or higher.

The breakout aligns with historical price movements that previously led to strong rallies. TRX’s price action suggests continued bullish momentum, though short-term fluctuations may occur as traders take profits along the way.

Technical Analysis: Key Levels and Indicators

Technical indicators suggest that TRX remains in a bullish formation, with several key factors supporting its potential upward movement.

The cryptocurrency is currently facing resistance at $0.2354 and $0.2422, and a breakout above these levels could trigger further gains. On the other hand, $0.2215 and $0.2150 must hold as the support to reduce such an outcome.

One of the technical signs supporting the bulls’ argument is the Golden Cross. The 13-day moving average has crossed above the 49-day moving average showing a long-term upward bias.

The Relative Strength Index (RSI) is standing at 42.31 which depicts weak moments of stock in the current moment. Nevertheless, going above the 50 level would indicate the continuation of the buying spree, and thus a move upwards.

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The MACD indicator at the moment shows that the MACD line is below the signal line, which indicates that selling continues. Despite this, a bullish crossover appears to be forming, which could indicate a shift in momentum toward the upside.

If TRX sustains the levels of support indicated above, the upward movement of the TRX price may This will prelude the TRX to move towards $ 1.11 in the long run. They should watch for price action to be certain of the move’s sustainability.

Growing DeFi Activity Boosts TRX Demand

Beyond technical patterns, TRON coin’s decentralized finance (DeFi) ecosystem is experiencing increased adoption, adding fundamental strength to its bullish outlook.

Since decentralized exchanges are an integral part of any cryptocurrency network, the Total Value Locked in TRON’s DEXs is steadily increasing and indicates the growing confidence of investors in the network. Such a performance indicates that the users are now interacting more with TRON’s DeFi platforms hence improving this market.

Market analysts have observed a shift from centralized exchanges (CEXs) to TRON-based DeFi platforms, driving higher demand for TRX.  However, it has been observed that, as more users look for a viable alternative to centralized platforms, the use case and applications of TRX in DeFi are steadily growing. This also helps in supporting price stability while simultaneously developing a long-term potential for TRON.

What’s Next for TRON Coin (TRX)?

Technically, the rapid increase in the price of the cryptocurrency might be supported by market trends, and if this is the case more gains are seen to be within the reach of TRX, including $0.2354 and $0.2422 as achievable within the short-term. So far the bulls are leading and therefore getting towards $1.11+ could still be expected in the long run.

The traders should look at the ‘daily charts’ Resistance and Support, anything below $0.2150 may be a temporary pull back. Nonetheless, if there is a constant increase in the buying pressure, in the next few months, Tron coin might have a great upward movement.